The founder of FTX is going to stand trial in over 6 weeks.
Former FTX CEO Sam “SBF” Bankman-Fried will spend at least 21 days in court as part of his criminal trial, which begins Oct. 4 and runs through Nov. 9, according to a newly released public court document.
The growing trial calendar, released on September 28, will begin with jury selection on October 3. The first official date of Bankman-Fried's trial is October 4, when the seven counts of fraud against him will begin to be discussed.
There are two substantive allegations that the prosecution must convince the jury that Bankman-Fried committed the crime. Five other “conspiracy” charges involve convincing jurors that Banman-Fried planned to commit the crimes.
There are 15 full test days in October and another six days in November. The court will be closed from October 20 to October 25 and on weekends. Public holidays also fall on October 9 and November 10, and there are no trials scheduled for November 3.
The former FTX CEO has been serving pretrial detention at the Metropolitan Detention Center since Aug. 11. Through his attorneys, Banman-Fried filed multiple motions for temporary release in preparation for the upcoming trial.
The latest retrial was resumed on September 28 by US District Judge Louis Kaplan, who pointed out that Bankman-Fried was a potential flight risk and could face a “very long prison sentence” if convicted.
“If things start to look bleak… maybe it's time to run away.
But Kaplan said he was sympathetic to the defense's case and allowed Banman-Fried to arrive in court at 7 a.m. on most trial days to speak with his attorneys before testimony began.
RELATED: Sam Bankman-Fried's temporary release request denied as trial date approaches
At a Sept. 28 hearing, Assistant U.S. Attorney Danielle Kudla said the Justice Department estimated the case could last four to five weeks.
SBF, who has pleaded not guilty to seven counts of fraud and conspiracy following the collapse of FTX, faces a statutory maximum of 110 years in prison.
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